Take Advantage of the IoT Today for Smarter Operations Tomorrow

Four Steps to IoT Success

The path to higher profitability is via the Internet of Things (IoT) — and it may be easier than you think.

A recent study finds that most manufacturing executives believe that IoT will boost profitability over the next five years.

That’s exciting news — but new profits won’t materialize at these companies without a carefully crafted plan that prepares employees and their facilities to communicate, share, and leverage information.

Balance: Coordinate the modernization schedule with the capital-expenditure budgeting process over multiple years. Carefully document estimated return on investment from IoT upgrades — including improved production performance, enhanced asset management, and increased plant capacity into those calculations.

Replace: After a modernization plan is established, manufacturers identify specific new equipment and devices to support the IoT. These selections should provide smarter manufacturing out of the box, while also offering long-term flexibility to adapt to new technologies and standards.

Repeat: Savvy leaders know that modernization isn’t a one-time exercise. These execs review automation opportunities on an annual basis, making sure that their companies keep pace with the IoT — and with their competitors.